Saturday, Nov 24, 2007
Incompetence?
Telegraph: Slowdown fuels hopes for rate cut
Quote fro article:
'Simon Rubinsohn, chief economist at the Royal Institute of Chartered Surveyors, urged the Bank of England to address "the pressures on the housing market", saying: "A troubled housing market is likely to strengthen the case for an early response."'
Erghh, I thought house prices are not supposed to be a factor in the interest rates? After all, we've had raging HPI over the last five years or so and nobody seemed to think that was a problem so why can't the market be allowed to correct itself? Hopefully, the price of credit and interest rates will disconnect but this article really hacked me off.
Posted by quiet guy @ 03:35 PM (190 views) Add Comment
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